Immuneering (NASDAQ:IMRX) Releases Quarterly Earnings Results, Hits Estimates

Key Points

• Immuneering Reports Earnings: The company announced a quarterly earnings per share (EPS) of ($0.40), meeting analysts' expectations.
• Stock Performance: Immuneering's stock rose by 19.6% to $3.64 following the earnings report, with a notable trading volume of 293,493 shares.
• Insider Transactions: Director Peter Feinberg and CEO Benjamin J. Zeskind made significant stock purchases, indicating confidence in the company's prospects.

Immuneering (NASDAQ:IMRX - Get Free Report) posted its earnings results on Wednesday, August 13th. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.40), Zacks reports.

Immuneering Trading Up 2.4%

Shares of IMRX stock traded up $0.08 during trading on Wednesday, reaching $3.43. 164,000 shares of the company's stock traded hands, compared to its average volume of 1,220,574. The company has a market capitalization of $124.57 million, a P/E ratio of -1.81 and a beta of 0.37. The firm's 50-day moving average is $3.44 and its 200 day moving average is $2.22. Immuneering has a 1 year low of $1.01 and a 1 year high of $4.69.

Analyst Ratings Changes

Several analysts have recently issued reports on IMRX shares. Mizuho upped their target price on shares of Immuneering from $8.00 to $10.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 18th. Needham & Company LLC reissued a "buy" rating and issued a $9.00 price target on shares of Immuneering in a report on Wednesday, June 18th. Chardan Capital reissued a "buy" rating and issued a $13.00 price target on shares of Immuneering in a report on Thursday, August 14th. Finally, Oppenheimer cut their price target on shares of Immuneering from $25.00 to $21.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Immuneering currently has a consensus rating of "Moderate Buy" and an average price target of $13.25.

Insider Activity at Immuneering

In other Immuneering news, CEO Benjamin J. Zeskind purchased 21,000 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were bought at an average cost of $2.39 per share, for a total transaction of $50,190.00. Following the purchase, the chief executive officer owned 2,302,852 shares of the company's stock, valued at $5,503,816.28. This represents a 0.92% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter Feinberg purchased 25,000 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were bought at an average price of $2.53 per share, for a total transaction of $63,250.00. Following the completion of the transaction, the director owned 136,766 shares of the company's stock, valued at approximately $346,017.98. This trade represents a 22.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 127,507 shares of company stock worth $334,318. 22.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Immuneering

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Immuneering by 2.0% during the second quarter. Geode Capital Management LLC now owns 230,275 shares of the company's stock valued at $776,000 after buying an additional 4,458 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Immuneering by 57.9% during the second quarter. Bridgeway Capital Management LLC now owns 95,449 shares of the company's stock valued at $322,000 after buying an additional 35,000 shares during the period. Corient Private Wealth LLC bought a new stake in shares of Immuneering during the second quarter valued at about $215,000. XTX Topco Ltd bought a new stake in shares of Immuneering during the second quarter valued at about $90,000. Finally, Jane Street Group LLC bought a new stake in shares of Immuneering during the first quarter valued at about $32,000. 67.65% of the stock is currently owned by institutional investors.

Immuneering Company Profile

Immuneering Corporation, a clinical-stage oncology company, engages in the development of medicines for broad populations of cancer patients. Its lead product candidates include IMM-1-104, a dual-MEK inhibitor currently under Phase 1/2a clinical trial to treat patients with cancer, including pancreatic, melanoma, colorectal, and non-small cell lung cancer caused by mutations of RAS and/or RAF; and IMM-6-415 is in Investigational New Drug application to treat solid tumors.